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Shiba Inu (SHIB) Price Increases by 6% in Single Day

Since the crypto market crisis in the first two weeks of May, the price of Shiba Inu has recovered by 26%. The price rise is still ongoing, with the SHIB gaining more than 6% in the last 24 hours. The basis for the fast rally is whale accumulation noticed from the bottom of $0.00000988(R0,00016).

Meanwhile, in the last 24 hours, 1.096 billion Shiba Inu tokens have been burned, raising the burn rate to 121.56 %. The circulation supply of SHIB is nearing 553 trillion.

Shiba Inu (SHIB) Price Increases

The SHIB price is now hovering at $0.000012(R0,00019). The recent uptick in whale trades implies interest at low pricing levels.

SHIB has been the most traded token among the top 10 list of tokens held by the top 500 Ethereum whales in the last 24 hours, according to WhaleStats statistics.

ETH whale “BlueWhale0073” has been acquiring Shiba Inu (SHIB) since the price dropped to $0.00000988(R0,00016). In the previous 24 hours, the whale purchased 375 billion SHIB tokens for $4.56 million(R71.5M). On May 13, the ETH whale “BlueWhale0073” purchased 109 billion SHIB tokens for $1.40 million(R22.3M).

Meanwhile, Shiba Inu, the second-largest meme token, has overtaken Dogecoin in terms of Twitter followers. The number of wallets containing Shiba Inu has increased dramatically in the recent week (SHIB). Furthermore, SHIB transactions off exchanges have increased in recent days. According to KuCoin, SHIB is one of the top ten coins in terms of search popularity today.

Shiba Inu Sees a Bright May Ahead

Shiba Inu (SHIB) gained 25% when the Middle Eastern crypto exchange Rain listed the token for trading last week. In March, the Rain exchange asked its Twitter followers whether it should add SHIB. The community overwhelmingly supported listing. However, the SHIB listing on the Robinhood app continues to be the most influential listing of the year’s second-largest meme coin.

Shiba Inu (SHIB) Price Increases by 6% in Single Day

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at [email protected]

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